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Money Dollarama Q1 profit up 7.3% on higher sales

16:06  07 june  2018
16:06  07 june  2018 Source:   msn.com

A recent poll suggests these are 3 of Canada’s favourite companies

  A recent poll suggests these are 3 of Canada’s favourite companies A recent nationwide poll highlighted three of Canadians' favourite companies, including Dollarama Inc. (TSX:DOL) and two others.The Leger poll is an annual survey that takes into consideration the views of over 2,000 Canadians to try and determine which brands Canadian consumers admire the most. Factors that help determine a company’s or brand’s reputation include things like service quality, transparency, and trust.

Dollarama 's profit beats estimates as shoppers spend more. Same-store sales rose 5.5 percent in the quarter as shoppers continued to buy higher priced products and the discount retailer maintained its gross margin at 41.4 percent.

Dec 10 (Reuters) - Dollarama Inc (DOL.TO), Canada’s largest operator of dollar stores, reported a quarterly profit on higher sales , helped by higher sales and a foreign exchange gain, sending its shares up 7 percent to a new year- high .

a group of people standing in front of a store© Provided by thecanadianpress.com MONTREAL - Dollarama Inc. says its first-quarter profit increased to $101.6 million from $94.7 million last year, mainly as a result of increased sales and cost controls.

The Montreal-based company's net income amounted to 92 cents per diluted share, up from 82 cents per share in last year's fiscal first quarter.

Sales for the 13 weeks ended April 29 were $756.1 million, up 7.3 per cent from $704.9 million in the comparable period a year earlier.

Comparable store sales grew 2.6 per cent from last year, while the number of stores grew by 62 locations to 1,170.

The discount retailer said its cost control efforts and productivity improvements had reduced overhead costs as a percentage of sales and mitigated the impact of minimum wage increases, which went into effect in Ontario on Jan. 1.

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CANADA STOCKS-TSX futures trade higher on global cues. Canada's Dollarama Inc reported a better-than-expected profit , driven by an increase in comparable sales as shoppers spent more at its discount stores.

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Companies in this story: (TSX:DOL)

Related gallery: 21 things you should always buy at a dollar store [Money Talks News]

21 Things You Should Always Buy at a Dollar Store: Dollar stores lure us in with rock-bottom prices. Sometimes you get what you pay for, but often the things they sell are good products at a tremendous discount — a real bargain.Here’s what bargain-shopping experts say are good buys at dollar stores (as opposed to just cheap buys).It's not the usual blah, blah, blah. Click here to sign up for our free newsletter. 21 things you should always buy at a dollar store

Condo prices buoying GTA’s new-home market, even as sales drop .
Condo prices buoying GTA’s new-home market, even as sales dropThe price of new single-family homes, meanwhile, continued to slide amid higher interest rates and government measures aimed at cooling what had been a frenzied and overheated market. The price of single-family homes in the GTA was down 6.4 per cent in May over the same period in 2017 to $1,144,191 and dropped by just less than 1 per cent from the previous month.

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